BB&T 2015 Annual Report Download - page 313

6.9 Valuation of Accounts: The Trustee shall hold the Participant Accounts as a single fund. The Trust Fund shall be
revalued by the Trustee as of each Adjustment Date at current market values as determined by the Trustee. Net investment gains and
losses shall be allocated by the Trustee among the Participant Accounts and the Unallocated Account in accordance with Section 6.5.
6.10 Withholding Taxes; Employment Taxes : Any amounts required to be paid under this Section 6 in cash shall be
reduced by the amount of any income taxes and employment taxes required by law to be withheld, and the Trustee shall inform the
Company of all amounts so withheld. The Trustee may either pay such taxes required to be withheld to the Company, whereupon the
Company shall have full responsibility for payment of all withholding taxes to the appropriate tax authorities, or pay such taxes directly
for the benefit of the Company. Whenever any amounts required to be paid under this Section 6 will be paid in Company Stock, the
Company shall have the right to require the Participant to remit to the Company an amount sufficient to satisfy all income taxes and
employment taxes required to be withheld as a condition to the registration of the transfer of such Company Stock on the books of the
Company. In any event, the Company shall timely furnish each Participant with the appropriate tax information form evidencing such
payment and the amount thereof. The Company’s share of any employment taxes attributable to benefits paid by the Trustee shall be
the sole obligation of and paid by the Company.
Section 7. Taxes, Expenses and Compensation:
7.1 Taxes: The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are
levied or assessed upon or become payable in respect of the Trust Fund, the income or any property forming a part thereof, or any
security transaction
22
Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.